Eurobench.com

voda 12 november 2019 16:28

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Worker Unions Cautiously Welcome Jingye Deal for British Steel

Worker Unions have cautiously welcomed an expected announcement that a rescue deal has been struck with British Steel. UK and Ireland’s largest union Unite has cautiously welcomed the news. Unite assistant general secretary Mr Steve Turner said “Unite welcomes news that it appears we are close to a deal being concluded that ends the anxiety felt by thousands of workers, their families and communities and finally brings desperately needed stability to a world class business. However, there have been a series of false dawns in finding a buyer for British Steel and Unite will not be raising any false hopes without seeing detailed plans for the entire business and the ink is dry on the contracts. If and when a formal announcement is made, the workforce will begin to breathe a collective sigh of relief. Unite is seeking a further urgent meeting with Jingye to understand exactly what commitments will be made to the workforce and its proposals for long term investment in the company. Similarly we continue to seek meetings with government to secure a firm commitment that it will now finally ensure that previous empty promises to act to defend the steel industry in respect of tariffs, energy prices and business rates in particular, are finally delivered and aren’t simply a further example of opportunist electioneering.”

GMB has also greeted the proposed sale of British Steel to China's Jingye Group with cautious optimism. Mr Ross Murdoch, GMB National Officer, said “On the face of it we cautiously welcome this sale which finally provides some light at the end of the tunnel for 4,000 British Steel workers. GMB also met with Chairman Li and his senior team in Scunthorpe on 30 October. We were impressed with the passion and enthusiasm from the Jingye team. However due diligence on this sale was completed very quickly and the devil will be in the detail. As such we will seek an urgent meeting with the Jingye group to discuss their precise strategy. GMB’s position is the new owner takes on the whole workforce on existing terms.”

Source : Strategic Research Institute

voda 12 november 2019 16:29

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Nucor Orders SMS Continuous Caster for New Plate Mill Facility in Brandenburg in Kentucky

Nucor Corporation has selected SMS group for the supply of a single-strand caster for ultra-wide and thick slabs. Designed for an annual capacity of 1.45 million tonnes, it will be a core element of the production chain of the Nucor’s new plate mill facility in Brandenburg in Kentucky USA. The caster will produce slabs of 8 to 12 inch (200 to 305 millimeter) thickness up to 124 inch (3,150 millimeter) width. Slab lengths vary from 104 to 600 inch (2,642 to 15,240 millimeter). To meet Nucor’s challenging project objectives, several special technological features will be incorporated into the new vertical bending caster. These include robotic applications on the casting platform and an HD mold with fiber optics and electromagnetic stirring. In addition, a customized roller apron, a quenching unit and a secondary cutting line will also be incorporated.

Various X-Pact technological packages like Process Guidance, Solid Control, Tech Assist with Liquid Core Reduction and Dynamic Soft Reduction®, integrated in the SMS Electric & Automation system will support the caster performance. An integration test with virtual 3D production and active participation by Nucor personnel will take place in the SMS test field.

Source : Strategic Research Institute

voda 12 november 2019 16:29

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Philippine to Intensify Steel Rebars Quality Checks after Earthquakes in Mindanao

Philippine’s has vowed to intensify the compliance-monitoring of steel bars used for the construction of structures in light of the series of earthquakes that shook Mindanao.Trade and Industry Secretary Mr Ramon Lopez said he would investigate allegations of substandard steel entering the Philippine market. He said “We will cooperate and support the investigation to be conducted in order to ensure that the public will not be harmed by substandard construction materials.”

At the same time, the DTI said that the agency has stricter rules on standard compliance for steel products. Some the DTI new guidelines include raising the sample size for product testing, checking the Philippine Standard mark and standards of manufacturing plants and implementing inspection mechanisms at different stages of transport from pre-shipment to post-shipment and audit in retail.

Likewise, the DTI-Bureau of Philippine Standards has intensified its factory surveillance activities and created composite teams conducting surprise factory surveillance audits. In the last two months, DTI-BPS has conducted 14 factory visits involving 19 Product Standard (licenses for steel products. During these visits, samples were randomly drawn and submitted to the Metal Industry Research and Development Center testing laboratory for independent testing. As a result, DTI-BPS has suspended two PS licenses of factories found producing non-conforming steel products. A total of 57,250 pieces of non-conforming steel bars with an estimated value of PHP 6.5 million were destroyed. In total, the team conducted 52 factory surveillance audits with eight more factories due for surveillance or surprise audits within the year.

Source : Strategic Research Institute

voda 12 november 2019 16:30

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Air Quality in Magnitogorsk improves twofold in the Past Two Years

The Comprehensive Air Quality Index indicator for Magnitogorsk has almost halved over the past two years, official data shows, indicating a twofold improvement in air quality. The reading is the lowest in the history of Magnitogorsk. MMK has spent more than RUB 21 bln on environmental measures since 2017. The CAQI for the city of Magnitogorsk for the first nine months of 2019 stood at 7.62, compared to 13.4 for the same period in 2017. The data is obtained from air quality observation stations belonging to the Russian Federal Service for Hydrometeorology and Environmental Monitoring (Roshydromet) and MMK. Readings are conducted using Roshydromet methodology).

A number of MMK’s environmental projects have contributed to the sharp increase in air quality:

1. Launch of the new sinter plant No. 5 in July of 2019 (RUB 30 billion). The plant is equipped with the latest environmental technologies, helping cut dust emissions in half (by 2.1 thousand tonnes per year), sulphur dioxide emissions by four times (by 3.5 thousand tonnes per year) and benzo(a)pyrene emissions by 16 times.

2. Construction of aspirations systems at blast furnaces No.9, No. 10 and No.1 took place in 2017-2018, reducing dust emissions by a total of 1.14 ths tonnes per year.

In 2017, reconstruction of the sinter plant's sulphur recovery facilities improved the efficiency of air purification by up to 95%. Total investment in the project amounted to RUB 3.5 billion.

3. Implementation of the programme to reduce dust and gas emissions during coke production reduced the concentration of benzo(a)pyrene by 22% during the first nine months of the year.

Source : Strategic Research Institute

voda 12 november 2019 16:31

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Mr Karl Haider is new Chief Commercial Officer of Tata Steel Europe

Mr Karl Haider has taken up the role of Chief Commercial Officer for Tata Steel in Europe to further strengthen the company’s focus on customers. He replaces Mr Henrik Adam in the role who became CEO of Tata Steel in Europe in June this year. Mr Karl joined Tata Steel in Europe in 2011 as Director Downstream Operations. He began his career in the steel industry as an apprentice at voestalpine in 1981. He went on to study Technical Chemistry and Business Economics at the Johannes Kepler University in Austria. Karl has a PhD in Natural Science.

From 1997, Karl filled a number of commercial roles, including Product Manager and Sales Director at the Dutch chemical company DSM from 2001 until 2006. He then returned to voestalpine, first as a project manager and then as a Member of the Executive Board of the High Performance Metals division of voestalpine AG.

Source : Strategic Research Institute

Bijlage:

voda 12 november 2019 16:34

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US Steel Imports in 10 Months of 2019 down by 15% YoY

Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis data, the American Iron and Steel Institute reported that steel import permit applications for the month of October totaled 2,560,000 net tons. This was a 29.2% increase from the 1,982,000 permit tons recorded in September and a 34.6% increase from the September final imports total of 1,902,000. Import permit tonnage for finished steel in October was 1,519,000, down 0.9% from the final imports total of 1,532,000 in September. For the first ten months of 2019 total and finished steel imports were 25,152,000 net tons and 18,384,000 net tons, down 14.6% and 16.8%, respectively, from the same period in 2018. The estimated finished steel import market share in October was 17% and is 20% year-to-date.

Finished steel imports with large increases in October permits vs. the September final imports included light shapes bars (up 81%), black plate (up 44%), wire rods (up 35%), sheets and strip hot dipped galvanized (up 20%), mechanical tubing (up 19%), tin plate (up 17%) and hot rolled bars (up 14%). Products with significant year-to date (YTD) increases vs. the same period in 2018 include black plate (up 109%), steel piling (up 44%) and tin free steel (up 25%).

In October, the largest finished steel import permit applications for offshore countries were for South Korea (186,000 net tons, up 18% from September final), Germany (86,000 net tons, up 33%), Japan (82,000 net tons, up 15%), Brazil (67,000 net tons, up 74%) and The Netherlands (54,000 net tons, up 38%). Through the first ten months of 2019, the largest offshore suppliers were South Korea (2,235,000 net tons, down 10% from the same period last year), Japan (1,098,000 net tons, down 6%) and Germany (917,000 net tons, down 17%).

Source : Strategic Research Institute

voda 12 november 2019 16:41

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Acerinox Earnings in 9 Months Dip by 49% YoY

Spain based leading stainless steel manufacturer Acerinox SA announced that its turnover for the quarter totalled EUR 1.22 billion, representing a slight decrease of 2% in comparison with the second quarter, raising the net sales posted during the first nine months to EUR 3.661 billion, 5% lower than in 2018. After taxes and minority interests, net result was EUR 44 million in the third quarter, a figure 19% higher than that obtained during the previous quarter. Throughout the first nine months the figure totalled EUR 113 million, 49% less

Melting production, standing at 542,425 tonnes, decreased by 5% compared to the second quarter of 2019. The Group produced a total of 1.74 million tonnes between January and September, 10% less than in the first nine months of 2018.

Outlook “The decrease in industrial activity, together with overproduction by Asian countries, in particular China and Indonesia, have been putting market prices under great pressure. Under these circumstances, which include the usual year-end closing procedures in inventory controls, we predict that the markets are going to maintain behaviour similar to the current fiscal year, without any foreseeable signs of recovery for the time being. The Acerinox results for the fourth quarter will be aligned with those of the previous quarter, backed-up by business in the United States, although they may be subject to change depending on the results of the final negotiations on the labour force adjustment plan of the Campo de Gibraltar factory.”

Source : Strategic Research Institute

voda 12 november 2019 16:42

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Metinvest 1700 HMS Has Been Commissioned After Revamp

Metinvest Group has launched 1700 Hot Strip Mill at Ilyich Iron and Steel Works in in Mariupol following its reconstruction. Virtually the whole mill was upgraded in the course of the revamp: equipment and technology were supplied by Primetals Technologies Austria. Metinvest Group invested USD 110 million in the project. The new reversing mill with equipment for vertical breakdown of slabs is equipped with an automated control system, which allows to produce quality feedstock for the finishing mill. The coilbox installed after the roughing mill provides for intermediate coiling of long workpieces during the production of heavy coils. A large-scale revamp of 1700 HSM began in 2017 and had several phases. In the first phase, reheat furnace No. 1 was commissioned and a heavy-duty coiler was installed. In the second phase, an intermediate coiler (coilbox) was installed along with hydraulic descalers, a reversing roughing mill, and other process equipment. The finishing mill stands were also reinforced and modernized.

Due to the revamp of 1700 HSM, Ilyich Steel expanded its production capabilities, where the 250 mm slabs produced by new Continuous Caster No. 4 will be rolled to the specific size range, and the coil weight will be increased to 30 tonne.

Source : Strategic Research Institute

voda 12 november 2019 16:43

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SEAN Finished Steel Import in H1 up 5% - SEASISI

South East Asia Iron & Steel Institute said that ASEAN finished steel import growth rate increased 5.6% YoY to 25 million tonnes in the first half of 2019, compared to the rate of 2.8% in 2018. Long steel import declined 3.4% YoY to 6 million tonnes while import of flat steel grew 8.9% YoY to nearly 19 million tonnes in the same period. Finished steel export from ASEAN-6 surged significantly, by 16-17% YoY, to exceed 7 million tonnes in the first half of 2019. Both export of long and flat steel registered double digit growth rates during the same period.

Indonesia finished steel import increased moderately, by 4% YoY to nearly 4 million tonnes in the first half of 2019. However, import of long steel declined to below a million tonnes in the same period. Flat steel import, on the other hand, continued to register a positive growth rate of 7% YoY. This was a result of a significant jump in the import of hot rolled products and cold rolled coil. Finished steel export from Indonesia continued to increase at a significant rate, at 42% YoY to 1.6 million tonnes in the first half of 2019. This was mainly due to the robust increase in the export of flat steel which nearly doubled in volume to 1.5 million tonnes. Meanwhile, export of long steel declined slightly.

Malaysia finished steel import in the first six months of 2019 declined by nearly 10% YoY to 3.3 million tonnes. The bulk of import was for flat steel, but the volume declined slightly to 2.4 million tonnes while import of long steel increased by a double digit of 17% YoY. Export, on other hand, increased robustly, by 55% YoY, to 897,601 tonnes. This was due to a huge expansion in long steel export, which increased by three folds compared to the same period of 2018. Export of bar doubled in volume while export of wire rod increased by more than five folds.

Philippines finished steel import was somewhat stable, with a slight increase of 2% YoY to 2.7 million tonnes from January to June 2019. There is no export recorded in the same period. Import of long steel declined 7% YoY while import of flat steel increased 9% YoY to 1.7 million tonnes during the same period of 2019.

Singapore finished steel import decreased 8% YoY to 3.7 million tonnes in the first half of 2019. Both long steel and flat steel registered negative growth rates. Long steel import dropped 11% YoY to 2.3 million tonnes and flat steel shrank 3% YoY to 1.4 million tonnes during the same period of 2019.

Finished steel import in Thailand expanded moderately, by 4.5% YoY to 6 million tonnes in the first half of 2019. Both flat and long steel import continued to grow at 4-5% YoY. Import of hot rolled plate and coated sheet registered double digit growth rates from January to June 2019. This was partly due to the substitution for the slowdown in domestic supply. Finished steel export from Thailand, on the other hand, declined 11.3% YoY to 695,188 tonnes in the first half of 2019. Export of long steel was stable, with a marginal growth rate of 1% YoY. On the other hand, export of flat steel declined 26% YoY in the same period of 2019.

Vietnam finished steel import increased robustly, by 21% YoY, to more than 7 million tonnes in the first half of 2019. The bulk of import in Vietnam was the import of flat steel with the volume registering a double digit growth rate of 17-18% YoY in the first half of 2019. Import of long steel rose significantly, by nearly 50% YoY in the same period. Export from Vietnam continued to increase, but at a more moderate growth rate of 8% YoY in the first half of 2019. Export of long steel surged around 300,000 tonnes to 1.1 million tonnes in the same period. Meanwhile, export of flat steel slowed down by 2.5% YoY to 2.3 million tonnes.

Source : Strategic Research Institute

voda 12 november 2019 16:45

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Severstal Develops SeverFarm HDG Brand

Severstal received an official opinion from the National Research Technological University of MISiS on the assessment of corrosion resistance and durability of metal products manufactured under the SeverFarm brand. The results of the tests confirmed the properties declared by the manufacturer and allowed SeverFarm to be recommended for use in medium and highly aggressive environments, for example, for interior decoration of buildings and structures of the chemical and petrochemical industry, agricultural complex, as well as for use at low temperatures. At the same time, the service life of metal products manufactured under the SeverFarm brand will be at least 20 years. When used under normal conditions and temperature conditions, the life span of a building will exceed 50 years.

SeverFarm is a galvanized metal with a special coating resistant to the damaging effects of biologically and chemically aggressive environments. In addition to high resistance to corrosion, the coating has maximum protection against ultraviolet radiation and increased resistance to mechanical damage. This product is recommended for the construction and reconstruction of industrial and agricultural facilities, as well as buildings and structures of enterprises of the chemical, petrochemical, pulp and paper and food industries.

For example, the Severstal company used it to clad the facade of the coke-agglomeration laboratory of the Cherepovets Iron and Steel Works. This is the first experience of using SeverFarm for facing a building on the territory of an industrial site and, in particular, in the conditions of an existing chemical production. The product is also supplied for the construction of facilities of the Center for the Construction of Large-Capacity Offshore Structures being erected by PAO NOVATEK in the territory of the Kola Shipyard in the Murmansk Region, a region with extremely low temperatures.

Source : Strategic Research Institute

voda 12 november 2019 16:46

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Shepard Steel Turns on New Solar Energy System

Structural steel and miscellaneous metals company Shepard Steel announced that a 611 kW DC solar energy system installed on its headquarters by Solect Energy of Hopkinton went live on July 23 and has exceeded production estimates in the months since. In the first three months of operation, the 1,674-panel solar energy system generated approximately 200 MWh of electricity, enough to power the company’s operations into the winter.

Shepard Steel’s headquarters is a onestory 100,000 sq ft building at 110 Meadow Street in Hartford in Connecticut. The manufacturer partnered with Solect Energy of Hopkinton and Eversource to install the panels on an area covering 80,000 square feet of the roof. The solar system is monitored around the clock by Solect, which uses a cloud-based monitoring platform to measure the system’s output in real-time, ensuring it operates at maximum capacity. Solect’s monitoring also provides historical data and projections on future production that take into account regional weather patterns.

Source : Strategic Research Institute

voda 12 november 2019 16:47

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Difficult Environment Has Adversely Impacted voestalpine Results for H1

For the voestalpine Group, the first half of the business year 2019/20 was defined by a substantial dampening of sentiment in its economic environment. Particularly in Europe, where voestalpine generates about two thirds of its revenue, the weakening of the export industry due to increasing global barriers to trade, decreasing demand from the automotive industry as well as fewer investments affected all of the Group’s divisions. But the global trade disputes are being reflected in declining economic momentum in China and the United States too. The adverse conditions in the steel sector intensified all the more on account of massive increases in raw materials prices in tandem with decreasing sales prices and large volume steel imports into Europe that continue unabated. Furthermore, the financial expenditures for CO2 allowances in the European Union as well as the corporate issue of start-up costs at the Group’s Automotive Components plant in Cartersville, Georgia, USA, continued to have adverse impact on the profit margins.

Revenue for the business year’s first six months declines by 2% year over year, from EUR 6.7 billion to EUR 6.5 billion

Operating result (EBITDA) is down 23%, from EUR 860 million to EUR 666 million

Profit from operations (EBIT) falls by 52%, from EUR 480 million to EUR 230 million

Profit before tax falls by 61%, from EUR 422 million to EUR 163 million, and profit after tax by 64%, from EUR 320 million to EUR 115 million

Group’s technology segments railway systems, aerospace, storage systems, and welding technology deliver stable performance in a difficult macroeconomic environment

Mr Herbert Eibensteiner, Chairman of the Management Board of voestalpine AG, said the economic downturn, which has been gathering speed in our key markets since the start of the current business year, along with the extremely challenging conditions in the steel sector, caused all earnings categories of the voestalpine Group to decline in the first six months of the business year 2019/20. In order to ensure that earnings are stabilized and the Group’s financial strength is restored as soon as possible, we are currently doing everything in our power to implement cost-cutting and efficiency enhancement programs throughout the Group. I want to emphasize at the same time that our consistent, strategic focus on becoming a one-stop provider of special and complete systems is paying off in these challenging times. For instance, our technology segments railway systems, aerospace, storage systems, and welding technology delivered stable performance in the business year’s first half despite the economic downturn.

Source : Strategic Research Institute

voda 12 november 2019 16:48

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Ampco-Pittsburgh Announces Q3 2019 Results

Ampco-Pittsburgh Corporation reported sales from continuing operations for the three and nine months ended September 30, 2019, of USD 90.9 million and USD 300.9 million, respectively, compared to USD 98.8 million and USD 323.6 million for the three and nine months ended September 30, 2018, respectively. The decline is principally attributable to lower sales of forged engineered products to the oil and gas industry.

Loss from continuing operations was USD 1.3 million and USD 14.0 million for the three and nine months ended September 30, 2019, respectively, compared to USD 2.8 million and USD 4.8 million for the comparable prior year periods. Loss from continuing operations for the current year-to-date period includes a first quarter impairment loss of USD 10.1 million associated with the then anticipated divestiture of the Corporation's Avonmore, PA cast roll manufacturing facility, higher professional fees associated with the Corporation's overall restructuring plan and employee severance due to reductions in force of USD 1.7 million, and expense of USD 1.4 million associated with a British cast roll customer who filed for bankruptcy during the second quarter.

Net loss from continuing operations for the three and nine months ended September 30, 2019, was USD 1.2 million or USD 0.10 per common share, and USD 14.0 million or USD 1.11 per common share, respectively, including the negative impact of the Impairment Charge, the Restructuring-Related Costs and the Bad Debt Expense of approximately USD 0.04 and USD 1.04 per common share, respectively. By comparison, net loss from continuing operations for the three and nine months ended September 30, 2018, was USD 3.0 million or USD 0.24 per common share, and USD 2.5 million or USD 0.20 per common share, respectively.

Sales for the Forged and Cast Engineered Products segment for the three and nine months ended September 30, 2019, declined 10% and 9%, respectively, compared to the prior year periods principally due to lower sales of forged engineered products to the oil and gas industry. Operating results for the three months ended September 30, 2019, improved from a year ago due to lower losses at Avonmore as operations were curtailed in anticipation of its sale, which was completed on September 30, 2019. Operating results for the nine months ended September 30, 2019, decreased by USD 9.3 million when compared to the same period of the prior year and include the Impairment Charge, certain restructuring-related costs and the Bad Debt Expense. Additionally, while the current year periods have been adversely impacted by the lower sales of forged engineered products, operating results benefited from better pricing for mill rolls, manufacturing efficiencies in the domestic forged operations and lower overhead costs.

Sales for the Air and Liquid Processing segment for the three and nine months ended September 30, 2019, were relatively comparable to prior year levels. Operating income decreased approximately 23% and 18% for the three and nine months ended September 30, 2019, compared to prior year levels due principally to a shift in product mix.

Source : Strategic Research Institute

voda 12 november 2019 16:51

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Schmolz + Bickenbach Plans Capital Increase

Global leader in special long steel Schmolz + Bickenbach announced an addition to the planned ordinary share capital increase. The capital increase will be voted on at the Extraordinary General Meeting on December 2, 2019. The share capital is now proposed to be increased by at least CHF 325 million, with a concurrent reduction in nominal value. On October 23, 2019, SCHMOLZ + BICKENBACH announced its plans to implement a share capital increase with a concurrent reduction in nominal value. The capital increase at the time should have amounted to a minimum of CHF 189 million and a maximum of CHF 350 million. Continued discussions with lenders, major shareholders and banks led to the decision to adjust the minimum amount of the proposed share capital increase to CHF 325 million. The Board of Directors accordingly decided at its last meeting to propose to the EGM for approval a share capital increase totaling at least CHF 325 million.

BigPoint Holding AG, which is controlled by Martin Haefner, had, as already announced, committed itself to support the capital increase with CHF 325 million, subject to, among other conditions, the requirement that it holds at least 37.5% of Schmolz + Bickenbachs share capital after the capital increase. To ensure that Schmolz + Bickenbach receives proceeds of at least CHF325 million from the capital increase, the maximum amount of the capital increase proposed to the EGM is formally set at CHF 614.25 million. This upper limit is therefore merely a technical necessity in order to increase transaction certainty for SCHMOLZ + BICKENBACH.

Source : Strategic Research Institute

voda 13 november 2019 06:17

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'3G dingt mee naar liftendivisie Thyssenkrupp'

Gepubliceerd op 12 nov 2019 om 22:43 | Views: 589

ArcelorMittal 12 nov
15,58 +0,07 (+0,43%)

THYSSENKRUPP AG O.N. 12 nov
13,36 -0,01 (-0,04%)

ESSEN (AFN) - Ook investeerder 3G Capital is geïnteresseerd in de liftendivisie van het Duitse staal- en industrieconcern Thyssenkrupp. Persbureau Bloomberg stelt op basis van ingewijden dat de Amerikaans-Braziliaanse onderneming vorige week een bod heeft ingediend voor het onderdeel.

De interesse van 3G lijkt opmerkelijk omdat 3G vooral bekend is van investeringen in bedrijven als Kraft Heinz en Burger King. Naast 3G zijn er nog meer partijen die de liftendivisie van Thyssenkrupp graag willen hebben. Bloomberg noemt onder meer de Finse liftenmaker Kone, die samen op zou trekken met investeerder CVC, en het Japanse Hitachi.

Thyssenkrupp heeft het onderdeel in de etalage gezet. Het is naar verluidt nog steeds de vraag of er een meerderheidsbelang of een minderheidsbelang in het kroonjuweel moet worden verkocht. De divisie zou meer dan 15 miljard euro kunnen opleveren. De genoemde bedrijven wilden geen commentaar geven.

voda 13 november 2019 09:24

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Citi zet advies Aperam op neutral

Gepubliceerd op 13 nov 2019 om 09:23 | Views: 0

Aperam 09:07
28,02 -0,48 (-1,68%)

AMSTERDAM (AFN/BLOOMBERG) - Citi verlaagt zijn beleggingsadvies voor roestvrijstaalfabrikant Aperam van buy naar neutral. Het koersdoel staat op 28 euro.

De analisten wijzen op de gestegen koers van het aandeel Aperam en wachten nu op een beter instappunt. De kenners van de Amerikaanse bank zeggen dat de balans van Aperam sterk blijft in vergelijking met branchegenoten. De fundamentele vooruitzichten voor de roeststaalmarkt blijven uitdagend en afhankelijk van de maatregelen tegen dumping, aldus Citi.

Het aandeel Aperam noteerde woensdag kort na aanvang 1,7 procent lager op 28,01 euro. Daarmee was het een van de sterkste dalers in de MidKap.

voda 13 november 2019 16:12

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ArcelorMittal File Suit at Milan Courtto Exit ILVA

ANSA reported that ArcelorMittal has filed suit to get out of their contract to take over the former ILVA steel works including its Taranto plant. The suit arrived on the table of the president of the Milan court, Roberto Bichi, who will now assign it to one of two sections, specialized in business cases. ArcelorMittal has said it needs to pull out citing the lifting of a penal shield protecting a cleanup of the highly polluting Taranto works and the necessity of shedding 5,000 workers across the group, which employs over 8,000 people at Taranto and some 3,000 more at Genoa and Novi Ligure.

Italian Premier Mr Giuseppe Conte said that he will ask ministers to brainstorm solutions to convert the Taranto plant if no plan for its survival as a steelworks succeeds. Mr Conte said the government will soon have another meeting with ArcelorMittal executives and announced a legal battle involving a preventative procedure with the Court of Milan to obtain a judicial check on the government's and ArcelorMittal's arguments and motives within 7 to 10 days.

The Italia government is split on restoring the shield with many in the anti-establishment 5-Star Movement M5S, led by Foreign Minister Luigi Di Maio, against providing protection for a plant whose pollution levels have been linked to high local cancer rates in and around Taranto. But Premier Conte and the M5S's ruling partner, the centre-left Democratic Party PD, are firmly in favour of bringing the shield back, provided ArcelorMittal agree to stay on. All parties in government, including ex-premier and former PD leader Matteo Renzi's new centrist Italia Viva IV party, are against the job cuts.

Source : ANSA

voda 13 november 2019 16:14

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Thyssenkrupp Elevators Attracts Several Bids

Bloomberg reported that several firms have submitted bids for Thyssenkrupp AG’s elevator unit by last week’s deadline. Sources said “Finnish elevator maker Kone Oyj partnered with CVC Capital Partners to make a joint offer, Blackstone Group Inc submitted a bid with Carlyle Group LP and Canada Pension Plan Investment Board, Brookfield Asset Management Inc and a separate consortium of Advent International Cinven and the Abu Dhabi Investment Authority lodged their own bids. The Brazilian American investment firm 3G Capital has also submitted bid.”

Suitors are also prepared to make concessions on jobs and sites to persuade labour representatives at Thyssenkrupp, which control half of the group’s 20-member supervisory board.

Thyssenkrupp is exploring a sale of elevators, its most valuable asset, to generate much-needed cash and fund a turnaround of the steel-to-automotive conglomerate. It’s still debating whether to sell a majority or minority stake in its crown jewel, the people said. It’s also been making separate preparations for a potential initial public offering.

Source : Bloomberg

voda 13 november 2019 16:14

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Nationalizing Ilva Would Cause Trouble with EU – Mr Misiani

Italy’s Deputy Economy Minister Mr Antonio Misiani said that nationalizing the troubled Ilva steel plant would create problems with the European Commission, and the government should work on a market solution if ArcelorMittal pulls out of a contract to take over the site. Mr Misiani said in a radio interview with RAI “Nationalization would create problems with the European Commission...we have to look for a market solution.”

ArcelorMittal said last week it was withdrawing from a 2018 deal to acquire Ilva’s site in the southern city of Taranto, blaming its decision on a government move to scrap immunity from prosecution over environmental damage in the area.

Source : Reuters

voda 13 november 2019 16:16

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Top 3 Japan Steel Makers Cut Annual Profit Forecast

The top three Japanese steelmakers reduced their annual profit forecasts for the year to March 31. Japan’s top steelmaker, Nippon Steel, slashed its business profit estimate by 33% to JPY 100 billion, Japan’s No 2 steelmaker JFE Holdings, lowered its annual business profit forecast by 57% to JPY 60 billion and , Japan’s No 3 steelmaker Kobe Steel revised down its full-year estimate to a net loss of JPY 5 billion from its earlier projection of a profit of JPY 10 billion. They are hit by slumping steel prices in Asia eroding their export margins, slower auto demand overseas and falling usage in machinery at home. They are also suffering from a softening global economy hit by the US China trade row.

Nippon Steel Executive Vice President Mr Katsuhiro Miyamoto said “Steel margins have been squeezed amid tumbling Asian markets. Higher procurement costs and slowing exports by its Japanese manufacturing customers also hit profit. The global economy is weak and auto sales across the world are falling. We don’t see any signs of recovery in overseas steel markets. It’s a tough situation.”

On Tuesday, JFE Holdings, Japan’s No.2 steelmaker, lowered its annual business profit forecast by 57% to 60 billion yen as profit from its steel segment will fall to zero, the lowest since the company was established in 2002.

JFE Executive Vice President Mr Masashi Terahata said “The economies of ASEAN, India and Europe are slowing amid the US China trade row while overseas steel prices are slipping due to fierce competition. Domestic demand also slowed, especially in industrial and construction machinery, and even in construction.”

Source : Reuters

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03 jun	Video: AEX richting 1.000 punten en S...	1
22 mei	Mondiale staalproductie daalt opnieuw
02 mei	Beursblik: resultaten ArcelorMittal b...	1
02 mei	AEX gaat hogere opening tegemoet, ter...	4
02 mei	Meer omzet en hoger resultaat bij Arc...
01 mei	Lagere winst ArcelorMittal verwacht
23 apr	Mondiale staalproductie daalt toch weer
16 apr	Deutsche Bank haalt ArcelorMittal van...	1
12 apr	Video: cyclische aandelen bieden kansen
09 apr	World Steel Organisation ziet vraag n...

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